The annual 1098T tax form is provided by the University to use in preparing your income tax return. The form is mailed out to students no later than January 31st. Once the form is mailed, students can access the form online by going to heartland.ecsi.net.
Consider going green and having faster access to your 1098T by opting to receive the form electronically. Visit heartland.ecsi.net and sign up for electronic consent before January 1st to take advantage of this option.
1098-T FAQ
What is a 1098-T?
This form is used by eligible educational institutions to report information from their students to the IRS. This reporting is required per the Taxpayer Relief Act of 1997. The required information includes the student’s name, address, social security number or individual taxpayer identification number, enrollment status, total payments for qualifying tuition and related expenses, and total scholarships/grants received (whether taxable or not). The 1098-T form will assist students in calculating any education tax credit that they may be eligible for under the American Opportunity tax credits.
What if I have not provided my social security number?
The IRS requires colleges and universities to report 1098-T data with or without SSN/ITIN information. If you fail to furnish your SSN or ITIN, the IRS may impose on you a penalty of $50 unless your failure is due to reasonable cause and not to willful neglect. LeTourneau University makes multiple attempts during the summer and fall semesters to obtain your SSN/ITIN via mail, email, and phone.
When will this form be mailed to students?
The 1098-T form is required to be provided to each applicable student and must be mailed no later than January 31.
How do I use this information?
LeTourneau University’s sole responsibility regarding the American Opportunity tax credits is to furnish the form to the student and the IRS. It is not responsible for, and is prohibited by law, from giving tax advice. For assistance with using the information reported on the 1098-T, consult a tax advisor or the Internal Revenue Service for guidance.
Can my 1098-T be accessed online?
Yes—you can access your 1098-T at heartland.ecsi.net
The website allows students to securely review specific demographic and financial information provided by the school. This login-based portal requires users to verify their identity before accessing their records. It is best accessed through a laptop or computer as opposed to a smartphone.
Required Information for Login:
Select “Sign In | Register” from the top left corner of the homepage. If you already have an account, sign in with your credentials. If you do not have an account, follow the prompts to create one.
To connect your Heartland account to your LETU account, select “Connect An Account” and enter your Heartland Key (a unique key assigned to each student). If ECSI did not send this via email, you can retrieve it by using the look-up tool, to the right of the “Connect an Account” box. You will select Letourneau University and enter your SSN and Zip Code (matching your permanent mailing address in the University’s system).
Accessing Your Record:
Once your account is connected, select “View Account” to access your records. Current statements will be available in the Account Overview section, while previous statements can be found under the History tab.
To download your 1098-T, locate the 1098-T line item and click “View Details”(you may need to disable your pop-up blocker).
Why is box 2 empty?
You will no longer see any amounts in Box 2 (amounts billed for qualified tuition and related expenses) on your 1098T form. You will, however, see an amount in Box 1 (payments received for qualified tuition and related expenses). Based on a report that determined a significant amount of errors occurring related to educational tax credits, Congress and the IRS have eliminated the option for colleges and universities to report based on the “amounts billed”. Colleges and universities are now required to report based on the “amounts paid for qualified tuition and related expenses”. This will help eliminate further confusion and inaccuracies. The change went into effect for the 2018 tax year. Prior year reports will not be changed.
What are qualified tuition and related expenses?
Qualified tuition and related expenses are defined by the IRS as “tuition and fees required for enrollment or attendance.” In general, not all charges incurred during a calendar year will meet IRS requirements.
How is the amount in Box 1 calculated?
Box 1 is the total of all payments from any source, minus scholarships, grants, third party payments, and refunds. Box 1 cannot exceed the amount of qualified tuition and related expenses. Therefore, payments reported in Box 1 for the calendar year will not always match the total amount of payments made on your student account.
Is the cost of textbooks included in box 2?
No, the cost of books is not a qualified expense, because the books are not required to be paid to the University as a condition of the student’s enrollment.
Who do I contact if I have questions about how the totals for each box were calculated?
Any additional questions concerning how the totals for each box were calculated can be directed to the Student Accounts office. They can be contacted by phone at 800-388-5327 ext 4140 or by email at StudentAccounts@letu.edu. If you have further questions about these changes or other specific tax related questions, please contact your tax professional.
